Tolliver has spent 20 years at Dow Chemical and was most recently its corporate VP and CIO. She will replace Kim Stevenson, who will now lead Intel's PC and mobile businesses as the COO of Client and Internet of Things Businesses and Systems Architecture (CISA) Group.

Tolliver's hire is another example of Intel's drive to find executive talent from outside of the company. Under CEO Brian Krzanich, Intel has moved away from its long tradition of promoting from within, largely in an attempt to find fresher ideas and a new revenue driver, as the company struggles to find growth from its traditional PC chip business.

Among the top 24 leaders listed on Intel's executive management page, 8 people have joined the company within the last 5 years, as opposed to the rest who have spent decades at the chipmaker. Some of the big names include Dr. Venkata "Murthy" Renduchintala from Qualcomm, Steve Fund from Proctor & Gamble, and Wendell Brooks from Allen & Company.

Perhaps the most high-profile outside hire is Renduchintala, who was plugged into Intel's #2 spot last year after spending nearly a decade at rival chipmaker Qualcomm. Stevenson, who will be replaced by Tolliver, will report to Renduchintala in her new position.